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Bail out Nigerian Universities

The Central Bank Of Nigeria (CBN) Governor got an approval to bail out the five failed banks (or about to become failed ) in Nigeria with N420billion in order to alleviate depositors fear and to bring the banks back on tracks. Thanks to the President, Umaru Musa Yar’adua.

In fact I know very little about governance, may be that is why I suffer so much but how can the president approve N420billion loan to banks without collateral, and also without the approval of the National Assembly? As a layman, I do not know the difference between this act or move and what the failed Banks executive did or refused to do that caused their failure. We are very good at taking steps only we should be calculative to take right steps.

What is of paramount importance to me may be inconsequential to someone else but I know that there is little or nothing that can be achieved in any nation without educational development.

Can the President of Nigeria bail out the 51 Federal and state universities with N42billion? In a lighter mood, the money mismanaged belongs to the masses, the debtors are the billionaires, how come it is easy for these debtors to trade with our money and still sell to us at exorbitant price and when God eventually exposes them our government will cover them up because the daughter is engaged or marry to one of them as the case may be but sometimes they are part of those who sponsored these leaders during electioneering campaign. I understand why the honest citizens with business proposals cannot access loans from these banks.

I cannot be silent and at the same time be accused of defamation of character, but at the same time I do not want to be silent in the face of suffering.

Who can and will liberate Nigerian masses from these corrupt democracy masters? Hillary Clinton thanks providence for successive democracy of frying pan to fire, but the last weeks has really shown corruption in all facets of Nigeria sectors. Is it unlawful to owe a bank at least these debtors had agreement with these banks, can it be true that CBN is sniffing out of our cocoyam tuber?

If Yar’Adua had money to bail out banks, why can’t he make some provision for Universities in Nigeria, is it because they have alternatives? Is Nigeria educational system so inconsequential that the government find it unprofitable to invest in the future? Why is the bank of better importance than the governmental hospitals scattered about Nigeria that cannot treat its citizens? Can you imagine a midnight emergency in Aso Rock and the President cannot be flown to Saudi Arabia, Germany or America for medical check and just had to be flown to one of these Nigerian hospitals? Why is it that our leaders are so selfish they always seek their own gains? Is it not possible to make life comfortable for the citizenry? What if we are all comfortable in Nigeria? Does it mean an insult if both the rich and the poor can feed well 3 times a day?

Undergraduates in Nigeria universities have been at home for more than 3 months now, is it possible to compete with other universities when all our children do is lay about and conducting rallies around the streets? The best Nigerian University ranked 61 in Africa, Nigeria is the giant of Africa indeed.

The mother hen has perched on a rope; both the rope and the mother hen will know no peace.


NatalieS's picture

A Strong Piece

I see how much you have been pouring out in the last few days, and it is awesome. This piece is quite focused and I feel your strong voice throughout.


olutosin's picture

Thanks Ma Natalie


Yes pouring out for Nigeria, thanks for the words of inspiration

Olutosin Oladosu Adebowale
Founder/Project Coordinator
Star of Hope Transformation Centre
512 Road
F Close
Festac Town


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